Legal & General Investments has appointed new managers for four of its funds but is refusing to reveal why the managers have been replaced.
As part of the reshuffle Rod Oscroft has replaced head of active equities Robert Churchlow as manager of the £155m L&G Growth Trust.
The £103m L&G North American Trust will be run by Nigel Holland, who replaces Melanie Jenner.
Head of Pacific Basin ex Japan team Lloyd Branford has been replaced as manager of the £98m L&G Pacific Growth Trust by Paul Hilsley.
The £29m L&G UK Absolute Fund mandate will be run by Guy Rushton. It was previously managed by Robert Churchlow.
L&GI managing director Simon Pistell says: “Legal & General Investment Management has a strong active equity team and today’s changes will enhance our offering across a number of our funds.”
A spokeswoman for L&G declined comment on what is happening to the three managers who have been replaced.